PFRS 5

On January 10, 2018, Hello Company enters into a contract to deliver product A and B to Mr. David
for P20,000. The contract requires that product A to be delivered first and states that payment for
the delivery of product A is conditional on the delivery of product B. the relative stand-alone selling
price of products A and B are P4,000 and P6,000 respectively. The consideration of P20,000 is due
only after the entity has transferred both products A and B.

Requirements: Apply the five step model provided by PFRS 15